254/Maryland Manual

BANKING BOARD

H. Furlong Baldwin, 1985; Michael H. Weinman,
1986; H. Lee Boatwright III, 1987; Kathryne C.
Holdt, 1988; Saretha Gaskins Green, 1988;
Reese F. Cropper, Jr., 1989; Herbert Goldman,
1990.

Ex officio: Louis L. Goldstein, Comptroller of the
Treasury

The Banking Board was established by Chapter
489, Acts of 1935, and amended by Chapter 753,
Acts of 1981. Members of the Banking Board
advise the Bank Commissioner on any matter
concerning the business of any State banking
institution. The Board assists the Commissioner on
the approval or disapproval of applications by a
banking institution and foreign banking corpora-
tion (Code Financial Institutions Article, secs.
2-201 through 2-204). If the Bank Commissioner
does not follow the Banking Board's advice, the
Commissioner must notify the Board in writing of
the reason for the action (Chapter 753, Acts of
1981).

The Board is composed of the Comptroller of the
Treasury and seven members appointed to six-year
terms by the Governor with the advice of the
Secretary of Licensing and Regulation. One mem-
ber represents the Baltimore Clearing House, one
the Associated Mutual Savings Bank of Baltimore,
and one a certified public accountant, neither of
whom may be employed by any banking institu-
tion. Two members represent the general public.

BOARD OF SAVINGS AND LOAN
ASSOCIATION COMMISSIONERS

Chairperson: W. Thomas Grisriel, 1985

Jay FitzGerald, 1985; Charles K. Rittenhouse,
1985; Robert L. Stocksdale, 1985; Frank L.
Hewitt, Jr., 1986; John M. Balder, 1987; Joanne
Kerstetter Hull, 1987; Nathan A. Pitts, 1987;
Nancy Erwin, 1988.

34 Market Place
Baltimore 21202 Telephone: 659-6330
Toll Free: 1-800^92-7521

The Board was originally created in 1961 as the
Board of Building, Savings and Loan Association
Commissioners (Chapter 205, Acts of 1961). By
Chapter 856, Acts of 1980, it received its present
name.

The Board recommends to the Secretary of
Licensing and Regulation the names of three
persons qualified to be Director. The Board of the

Division of Savings and Loan Associations advises
and makes recommendations to the Director on
questions within the scope of his authority and
submits to the Secretary of Licensing and Regula-
tion proposed amendments to the savings and loan
association laws. It establishes methods and stan-
dards to be used in making examinations of
associations for the evaluation of their assets and
for their advertising and promotional activities.
The Board also adopts and amends such rules and
regulations as may be reasonable and necessary.

The Board of Savings and Loan Association
Commissioners consists of nine members ap-
pointed for four-year terms by the Governor with
the advice of the Secretary of Licensing and
Regulation and with the advice and consent of the
Senate. Each member must have been a resident
and registered voter of the state for at least five
years immediately preceding his appointment.
Three of the industry members must have been
actively engaged as officers or directors of, or
attorneys for, a Maryland savings and loan associa-
tion insured by the Maryland Savings Share Insur-
ance Corporation. Two of the industry members
must have been actively engaged as an officer or
director of, or attorney for, a Maryland association
insured by the Federal Savings and Loan Insurance
Corporation. The remaining four members of the
Board are selected from the public at large. Public
members must not have served during the twelve
months prior to their appointment as officers of,
directors of, or attorneys for, any association, and
shall not serve in that capacity while they are
Board members.

Authorization for the Board continues until July
1, 1988 (Code Financial Institutions Article, secs.
8-101 through 10-117).

DIVISION OF SAVINGS AND LOAN
ASSOCIATIONS

Charles H. Brown, Jr., Director
William S. LeCompte, Jr., Deputy Director

34 Market Place
Baltimore 21202 Telephone: 659-6330
Toll Free: 1-800-492-7521

The Division of Savings and Loan Associations
was originally created by Chapter 205, Acts of
1961, as the Department of Building, Savings and
Loan Associations. It received its present name by
Chapter 856, Acts of 1980.

The Division supervises and regulates the orga-
nization and operations of State-chartered savings
and loan associations. At least once every two